Karachi September 17 2022: The Board of Directors of the Lucky Cement Company, the largest cement player in the country, has approved, and recommended to the shareholders for their approval, that the purchase / buy-back period be extended, and shall be from September 29, 2022 to March 27, 2023 (instead of September 29, 2022 to December 19, 2022), or till such date purchase is complete, whichever is earlier, in accordance with the provisions of Regulation.
Lucky Cement Limited on August 25, 2022, pertaining to the decision and recommendation of the Board of Directors to purchase / buy-back up to 10,000,000 ordinary shares of the Company through the stock exchange (subject to obtaining the approval of the shareholders of the Company), in accordance with Companies Act, 2017.
All other relevant details / salient feature pertaining to the buy-back / purchase of shares by the Company, as recommended by the Board, and disclosed on August 25, 2022, as well as in the notice of the Extraordinary General Meeting issued on August 29, 2022, shall remain unchanged.
About the Company
Lucky Cement is one of the largest producers and leading exporters of quality cement in Pakistan and is listed on the Pakistan Stock Exchange (PSX). The company has also issued Global Depository Receipts (GDRs), listed and traded on the Professional Securities Market of the London Stock Exchange.
Over the years, the Company has grown substantially and is expanding its business operations with production facilities at strategic locations in Karachi to cater to the Southern regions and Pezu, Khyber Pakhtunkhwa to furnish the Northern areas of the country. Lucky Cement is Pakistan’s first company to export sizeable quantities of loose cement being the only cement manufacturer to have its own loading and storage terminal at Karachi Port.
Lucky Cement strives to remain an efficient and low cost producer and is one of the pioneers to introduce and install Waste Heat Recovery and Refuse Derived Fuel (RDF) and Tyre Derived Fuel (TDF) Plants in Pakistan. It also has self-sufficient Captive power generation facility of 180 MW and supplies additionally generated electricity to support the National grid. Lucky Cement owns a fleet of Bulkers & Trailers, which gives added advantage in terms of logistics and efficient deliveries to all types of customers spread across the length and breadth of the country.
